THE IMPACT OF THE AI REVOLUTION AI capabilities enable our teams to analyze vast amounts of data quickly and accurately, providing insights that drive better outcomes in underwriting, claims, and overall business performance and helping us to identify new opportunities for growth and innovation. For example, AI is revolutionizing the Underwriting (UW) and Claims journeys, transforming them from manual step-by-step processes to a streamlined and proactive approach. As we reimagine these crucial user journeys, we synthesize key data points to enable optimal decision making at the right moment and greater value at every step. THE FUTURE OF DATA AT SCOR In recent years, SCOR has made huge strides in the AI solutions used by our teams and proposed to clients. In 2023, our teams recognized the need to align and democratize access to data across the Group. Over the past year, our Data teams made significant progress in driving high-impact use cases, strengthening our data and AI foundations, and refining the governance needed to ensure data is used responsibly and securely. Looking ahead, we see AI as a key strategic differentiator and have set ambitious, concrete goals to further strengthen our data and AI capabilities to position the Group for long-term impact and innovation. In 2025, we will focus on developing improved P&C and L&H portfolio steering capabilities that lay the groundwork for future advancement of a new interconnected data and AI foundation. By leveraging advanced analytics and AI, we can gain deeper portfolio insights across markets and lines of business and, in 2026, we will scale our capabilities to create powerful feedback loops as a new way of working that brings deeper insights and increased proactiveness across the value chain. By 2027, we will complete the core data and analytics initiatives that underpin the Forward 2026 strategic cycle, solidifying our position as a data- and AI-driven organization. With this new, robust data and AI foundation, SCOR will be prepared to operate as an interconnected company, where well-governed access to data allows deeper analytics and real business impact. Our commitment to data and AI is rooted in the belief that they are not just enablers, but key strategic differentiators in a rapidly evolving technological landscape. In an environment where the ability to harness data and AI is essential to remain competitive, we are investing with intent—to lead, not follow, as we shape the reinsurer of tomorrow. . HARNESSING DATA AND AI FOR A RESILIENT FUTURE SCOR is laying the foundations for a solid data strategy In the reinsurance industry, data is the raw material behind decision making, risk assessment, and underwriting. Being able to capture, analyze, and leverage data effectively is crucial to our ability to continue offering innovative prevention and protection solutions that contribute to the resilience of societies. As the industry continues to evolve, with AI helping to accelerate and shape this transformation, the importance of a solid data foundation cannot be overstated. In 2024, SCOR focused on shoring up our data foundations and redefining a data strategy that will allow the Group to best harness the opportunities across the reinsurance value chain represented by tech and data, setting the stage for future advancements. 34 ACTIVITY REPORT 2024
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